Category: Security

HSBC and Barclays have joined several private and public sector organisations to test the use of digital ID in cross-border banking.

The group, which includes HSBC, Barclays, the UK Government Digital Service (GDS), Orange, OT-Morpho and the Open Identity Exchange (OIX UK), has launched the project by testing the opening of a bank account in the UK using a citizen’s digital identity from France. Additional funding for the project comes from European Union’s Connecting Europe Facility, a funding instrument to support the development of interconnected trans-European networks in the fields of transport, energy and digital services.

According to HSBC, the biggest effect that this project could have is to eliminate the need for a separate set of identification paperwork when opening a bank account in another country. A digital ID allows banks to share data and verify the client’s identity regardless of nationality.

The group will also use the mobile connect authentication process allowing the user to request a digital ID that is validated via eIDAS. These services will be developed and provided by Orange.

Around 14 million Verizon customers’ sensitive data was exposed online because a third-party contractor forgot to limit external access to an Amazon S3 server.

The server belongs to NICE Systems, an Israeli tech company involved in supplying software for back-office and call centre operations, according to UpGuard, a cyber-security company that discovered the leak.

Bleeping Computer explains how the server and its data were accessible, and that details such as Verizon customer names, addresses, account details, and for some account PINs, were accessed from January 2017 through June 2017.

Moreover, data from French mobile operator Orange was also exposed as the same NICE Systems server contained data from the mobile telco, but unlike the Verizon data, the Orange folder contained what appeared to be internal files, not as sensitive as the data stored in the Verizon directory, the online publication continues.

Experts say they contacted Verizon and NICE on June 13, when they discovered the server, but the leak was fixed nine days later on June 22.

Rivetz has announced the RvT cyber security token, created to combine computing with blockchain technology to offer privacy protection.

The solution enables multi-factor authentication across devices, to achieve security at the transaction and authentication level. Moreover, it will enable peer-to-peer transactions to have provable cyber controls that become a permanent part of the blockchain record, providing cryptographic proof that the measured protections were in place before a transaction. The app checks the status of a device before undertaking a task, such as connecting to the cloud.

Rvt token is built on a technology that has already been delivered on over a billion devices containing ARM-compatible processors. It takes advantage of the established features of the Trusted Execution Environment (TEE) to provide a vault on the device to enable machine execution of instructions that are subject to owner-led policy.

The launch of the RvT token sale is expected to take place on July 25, 2017.